1
Six Nations statement: Tom Curry 'Tunnelgate' incident
9
{{item.n}}
Union behind the Stormers set to exit administration
By Ian Cameron
The executive council of the South African Rugby Union (SARU) has advised the administrator of the Western Province Rugby Football Union (WPRFU) to conclude the union’s period of administration.
ADVERTISEMENT
This decision enables the WPRFU to proceed with elections and regain full voting rights upon completion of the process, expected by June 2025.
SARU’s recommendation follows the union’s improved financial standing, bolstered by a private equity investment in its commercial arm. Although the sale of Newlands rugby stadium remains pending, the Executive Council determined the WPRFU could finalize that transaction under its own authority.
The WPRFU was placed in administration in October 2021 due to significant financial and operational challenges.
The administrator’s mandate included finalizing the private equity deal, overseeing the move to DHL Stadium, and managing the sale of the Newlands stadium and other properties. With the first two tasks fulfilled, responsibility for the property transactions, including the sale of Newlands, now returns solely to the WPRFU.
“Both the Union and the Stormers (Pty) Ltd commercial entity are now in a stable financial position,” said SARU in a statement. “The Exco determined it would be unreasonable to continue with administration and the administrator was instructed to return control to the member.
“The union was placed in administration when it was in a dire financial position and its standards of governance were in disarray. That is no longer the case and to continue with administration was viewed as being unreasonable.”
ADVERTISEMENT